Emigrating to Australia during global recession makes winners

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Economists have put Australia at the top of their charts for performance this year during the recession, making emigrating to Australia a smart choice for people living in the suffering economies of the UK, Europe, Japan and the US.

Although the government has recently reduced the numbers of people emigrating to Australia in the Australian skilled migration program, Australia is still a prime destination for migrants because of its proven resilience to the global recession.

The government is still welcoming 108,000 skilled migrants emigrating to Australia during the 2009-10 financial year, showing that a phenomenal amount of people can take advantage of the better economic conditions in Australia.

The International Monetary Fund (IMF) has analysed data from the world's 12 largest developed economies and has concluded that Australia will perform the best of all. The Economist magazine also predicted a similar future for the Australian economy, saying that it will have the mildest recession, while the UK will recede at three times the pace of Australia and Japan at more than four times the speed. Further, the jobless rate will sit at 2 per cent lower than Germany, France, Italy and the US.

The Australian government had enough time and Budget surplus to prepare the economy for the recession and keep its head above water, and has even provided permanent Australian residents with cash handouts. Over the next few months, permanent Australian visa holders and citizens earning less than $100,000 p.a. will receive $900 from the government as a bonus so that more money can be spent in the economy.

Australia also still has the capacity to further reduce interest rates, if need be, and has even extended the Australian First Home Boost Scheme for Australian permanent visa holders and citizens by another six months, which gives first-time buyers up to $21,000 towards the purchase of their home.

"Australia is certainly doing much better than other developed nations," the Daily Telegraph reported JB Were chief economist Tim Toohey as saying.